Topics
Insurance Basics
- What is insurance?
- What is valuation?
- Why should I purchase insurance instead of valuation?
- Aren't we covered by our transportation service provider?
- Doesn't my homeowner/renters' policy cover my items
for the move? - What is a deductible?
- What is the deductible on my moving insurance?
- What is a Evidence of Insurance?
- Do you provide coverage for internal damage to electronics and mechanical items?
- Do you compensate for an entire set or pair if only one or a few items of this set or pair are damaged or lost?
- What is the All Risk insurance type?
- What is the Total Loss Only insurance type?
- What is the Named Perils insurance type?
- What is Co-Insurance?
- Do we need to complete a Household Goods Valued Inventory?
- Why do we need to complete the Household Goods Valued Inventory (Declared Value Coverage)?
- What is a "High Value" item?
- If I purchase the Electrical and Mechanical coverage, or the Pairs and Sets coverage, do I need to also list items covered under these options on the basic insurance application?
- How soon before my move do I need to purchase my moving insurance?
- How much will insurance cost me? (How is the cost determined?)
- Can I pay for insurance with a credit card?
- Can I pay with a check, PayPal account, or have the cost billed to me or my employer?
- How can I purchase insurance from you if I do not have access to a computer or to the Internet?
- Can my request for insurance coverage be denied?
- What if I need to add or eliminate any items on my inventory?
- What if I change my moving date?
- How long after completing and purchasing moving insurance will I receive the Evidence of Insurance?
- What happens in the case that I change my moving company or my service provider prior to moving date?
- Can I cancel my insurance?
- Are there any items not covered under this insurance?
- Can I insure my goods for sentimental value?
- Can I purchase insurance only for specific items?
- What are the minimum and maximum insurance coverage amounts allowed?
- Can I insure my automobile or motor vehicle?
- If I pack my own boxes, are the contents covered?
- Can I purchase insurance if I am using a mobile storage company or renting a truck?
- How do I determine value on my household goods?
- Will my items be insured if my shipment goes into storage at a moving or mobile storage company's facility?
- Will my items be insured if my shipment goes into a mini/self/public storage facility?
- When does coverage for my household goods start and when does it end?
- If my goods remain in storage for longer than 90 days, can I get the coverage extended?
- Can I purchase coverage for my goods if they are being moved out of storage and I had no prior coverage for them?
- Can I purchase coverage for my goods, if I am loading and unloading my goods into and out of a mobile storage container?
- Will my goods be covered if they are being picked up one day at our origin address, kept on the truck for over-night storage, and delivered to our new destination the next day?
- How do I file a claim for damages?
- How long do I have to file a claim?
- How does the claims process work?
- How long does it take to settle a claim?
- In case of a claim settlement, am I being paid by both the insurance company and the service provider?
- What is considered proof of ownership of my items and how do I establish it?
- Do I need to take pictures of my items?
- Do I need to produce receipts in order to prove the value of the items?
- What is an "Appearance Allowance"?
- What would the compensation be for a damaged item/part which is part of a larger unit (example: a sofa's cushion), in case this item cannot be repaired and no exact match can be found for it??
- How do you determine which companies to include in your system?
- What if the company I am using is not listed on your system?
- Do you rank companies on your system based on their quality and performance?
- Are your insurance rates different from one moving company to another?
- Can you recommend a service provider we should use for our move?
- How often do you check the quality and license validation of companies on your system?
Insurance Basics
Insurance is a system of protection against loss in which an individual agrees to pay a certain sum for a guarantee that they will be compensated under stipulated conditions for any specified loss. It is a contract guaranteeing such protection.
- Insured/Assured: a person whose property is insured against loss.
- Insurer: a company that insures others against loss or damage: underwriter.
Valuation is NOT insurance. Valuation is the amount of liability a moving company will accept for the value of your goods if damaged or lost while in their possession. Valuation is limited to the moving company's own coverage, and the amount of coverage declared on the bill of lading based on the weight of the entire shipment. If valuation is not selected and paid for, the amount of coverage will be based on the state or federal legal liability limits, ranging from $.10 per pound up to $0.60 per pound per article.
Why should I purchase insurance instead of valuation?
There are many reasons to consider insurance instead of valuation:
- In the case of our All Risk insurance type, insurance provides a Full Replacement Value coverage, meaning it will compensate for up to the replacement value of the damaged or lost item. Valuation will pay the Actual Cash Value of the item, meaning, the depreciated value only. In case of our Total Loss Only type, insurance will compensate the total insured amount, less the deductible. Valuation programs offer limited coverage and will not provide full compensation.
- When buying insurance, you will receive an actual Evidence of Insurance from a leading insurance company as a proof for your coverage, rather than a note on your Bill Of Lading when purchasing the valuation.
- When you purchase valuation, you purchase it from the vendor which provides you with the moving service. By purchasing actual insurance coverage, you are obtaining the service of an independent, third party insurance company.
- Insurance can cover your household goods for a period of up to 90 days (depending on your choice of insurance carrier) while in transit or in storage, including when being hauled by a subcontracted carrier different from your original mover. In addition, you can extend your coverage by purchasing a Storage Extension so your coverage will not lapse while in storage. Valuation does not offer this coverage.
- Our insurance offers coverage for Mechanical and Electrical Derangement and/or Pairs and Sets. Valuation does not.
Aren't we covered by our transportation service provider?
No, your items are not automatically covered by your transportation service providers, whether it is a moving company, mobile storage company, or a rental truck company. The basic coverage a moving company is responsible for is $0.30 or $0.60 per pound per item depending if your goods are shipped within the state or across state lines. In the case of a mobile storage or a rented truck companies, this liability is set as low as $0.10 per pound per item. Some vendors offer Valuation coverage, however this coverage does not provide the same protection as our insurance and often is more expensive.
Doesn't my homeowner/renters' policy cover my items for the move?
Most homeowners' insurance policies do not provide coverage for your household goods for moving purposes. However, you should check with your own insurance agent to see if your existing homeowner/ renters' policy covers your goods while in transit. Be sure you have a written statement from your insurance company stating that your goods are covered while in transit. Often, you will find that your goods are covered against damages while the movers are in your home packing, but not while the goods are in the movers' possession.
A deductible is the amount of money a policyholder must pay out of pocket toward damage or loss before the insurance company will pay for a claim. The deductible is chosen by the insured, and the higher the deductible chosen, the lower the premium.
What is the deductible on my moving insurance?
In most cases, we offer several levels of deductible: $250, $500, $750, $1,000, $1,500 and $3,000. The deductible you choose determines the cost of the insurance you are seeking to purchase, and is a one-time deductible and NOT per item claimed. Please choose a deductible that best meets your needs. Remember, a higher deductible will reflect a lower cost.
What is an Evidence of Insurance?
An Evidence of Insurance is a document which includes the information you have entered on your insurance application and the terms and conditions you have accepted for this insurance. It is a document issued by an insurance company/broker that is used to verify the existence of insurance coverage under specific conditions granted to the named insured. Specifically, the document lists the effective date of the policy, the type of insurance coverage purchased, and the types and dollar amount of applicable liability. Our document will include all of the terms, conditions, limitations and exclusions of the coverage bound.
Insurance Types and Options
Do you provide coverage for internal damage to electronics and mechanical items?
This depends on the type of insurance you choose to purchase. Unlike other insurance agencies, we offer an Electrical and Mechanical Derangement policy only for an All Risk insurance type. This added option, also known as MED, covers against any internal damage to your electronics and/or mechanical items being moved where no physical damage is apparent. You can add this special coverage when you purchase your moving insurance on our website. During the application process you must either specifically accept or decline this coverage in order to proceed. Please remember that the MED is not available for Total Loss Only, Full Service Named Perils, Mobile Storage, or Truck Rental types of insurance.
The basic insurance option does not offer this coverage. However, in the case that you select an All Risk insurance type, we offer an additional coverage called Pair and Sets which will compensate you based on the value of an entire set or pair, even in the event only one item or a few items are damaged or lost. This coverage is for items that can ONLY be purchased as a pair or set. For example, a vanity set containing a dresser with a vanity mirror that can ONLY be purchased together. If the mirror is damaged beyond repair, the entire value of the set will be covered under this additional coverage, not just the mirror. During the application process, you must either specifically accept or decline this coverage in order to proceed.
You can add this special coverage when you purchase your moving insurance on our website. Please remember that the Pairs and Sets coverage is not available for Total Loss Only, Full Service Named Perils, Mobile Storage, or Truck Rental types of insurance.
What is the All Risk insurance type?
All Risk insurance provides coverage for individual insured items or your entire shipment for all types of damage or loss, unless specifically excluded on our Terms and Conditions.
Our All Risk coverage allows for two purchase options:
- Full Replacement Value - Valued Inventory
- Full Replacement Value - Lump Sum
What is the Total Loss Only insurance type?
Total Loss Only (TLO) is an insurance type that will compensate for damages only in case of 100% damage or loss to the shipment. This type of insurance will not compensate for individual items damaged or lost.
What is a Named Perils insurance type?
Named Perils type of insurance covers your belongings only against damage or loss due to the Perils listed on the Terms and Conditions. Depending on the specific type, some of these perils COULD be: Fire, Theft, Burglary, etc. Specific Perils will be listed on the Terms and Conditions.
Co-Insurance is a form of property insurance in which the insured shares in losses proportionately to the extent that the amount of insurance falls short of a specified percentage of the value of the insured property. For example, if you insured your goods for $10,000 while the entire actual value of the goods is $100,000, your proportionate claim settlement amount (in case of a claim) would be 1/10 of the actual value. For example, a lost item worth $6,000 will yield a settlement in the amount of $600 (minus any deductible, if applicable).
Insurance Specifics
Do we need to complete a Household Goods Valued Inventory?
If you choose to purchase our All Risk Valued Inventoryinsurance you will be required to complete the Valued Inventory. Only those items listed will be insured. If you select All Risk Lump Sum coverage, you must list any item or set valued at $1000 or more. You then need to take the weight of your shipment multiplied by $8 per pound, and add this total to your high value items total. However, if you choose the Total Loss Only, or any of the Named Perils type of insurance, a minimal or no inventory is required. More information is available as you move forward in the application.
Why do we need to complete the Household Goods Valued Inventory (Declared Value Coverage)?
If you chose the All Risk Valued Inventory insurance type, and in order to properly insure your items for full replacement value, a Valued Inventory form is required. This allows you to accurately list the replacement value of your goods in the case of damage or loss and provides the insurance company with a list of goods to be covered. In the event that you do experience loss or damage to an item, proof of value can be determined based on a purchase receipt, cancelled check or certified apprailal.
On a Full Service All Risk move, a High Value item is any single item, or set of items, whose replacement cost exceeds $1,000.
On other types of move, a High Value item is any single item whose replacement cost exceeds $500.
Yes. The Pairs and Sets, as well as Mechanical and Electrical Derangement options, require that items covered be listed on the basic insurance application as well. This is allowed for All Risk types of insurance, and is made available via our online application.
Purchasing Insurance
How soon before my move do I need to purchase my moving insurance?
If you use the services of a moving company for a full service move and choose to purchase our All Risk insurance type, we request that you obtain coverage for your goods no later than 2 days prior to your Packing Date. We define the Packing Date as the first date the movers will pack and handle your goods, and it could be the same as your moving date. In any case, insurance must be purchased prior to the loading of your goods onto the moving van.
If you use the services of a full service moving company, mobile storage company, or rent a truck yourself, and choose (for any one of these services) to purchase our Total Loss Only or Named Perils type of insurance, you can purchase insurance at any time during your move. However, please remember that in case of a claim, no compensation will be awarded to damage or loss which has occurred prior to binding of coverage.
How much will insurance cost me? (How is the cost determined?)
MovingInsurance.com has negotiated with our insurance providers to offer you very competitive insurance rates. These rates represent the fair market value for the type of insurance and coverage you are seeking. The cost of the insurance, or premium, is based on a proportional rate, relevant to the declared value of your shipment and the level of deductible you have chosen, and includes an administrative fee. Rates vary depending on your insurance type as well as based on your household goods' final destination, whether you move locally, out of state or internationally. Please note that you can get a quote on our website by clicking here at any time.
Can I pay for insurance with a credit card?
Yes. We accept most major credit cards: MasterCard, Visa, Discover and American Express.
Can I pay with a check, PayPal account, or have the cost billed to me or my employer?
No. The only form of payment we accept at this time is major credit cards.
How can I purchase insurance from you if I do not have access to a computer or to the Internet?
In such a case, please call our office and explain your situation to our customer service representative. We will assist you in completing your insurance application. However, please remember that we will need to fax or mail you the Terms and Conditions for your insurance, and this will need to be reviewed and signed before we can complete your application. We also charge a processing fee, separate from your insurance premium, for policies done by a customer service representative.
Can my request for insurance coverage be denied?
The insurance company reserves the right to review each insurance application and deny coverage should it realize any inappropriate conduct has been taken by the insured, or due to de-activation of the moving company you have chosen for your move. However, this rarely happens, and as long as you have followed our instructions you can rest assured your moving insurance will be accepted and rendered valid.
What if I need to add or eliminate any items on my inventory?
While you are in the process of completing your insurance application, you may add and change your inventory as you wish. When you begin the application on our site, we create a login account for you, which will allow you to start an application, come back at a later time, and complete it. Once you have completed and purchased your insurance, should you need any changes made, please contact our office. Please note that no changes to the coverage can be made once the move has begun.
What if I change my moving date?
If your moving date has changed, please contact us via email or the Contact Us form on the website, and indicate the correct date, and we will make the necessary change. Changes can be made only in the case that the move has not occurred yet.
How long after completing and purchasing moving insurance will I receive the Evidence of Insurance?
Immediately. When you complete the transaction on our site and pay with your credit card, your confirmation will appear on your screen with an approval code, as well as a link that will allow you to download the Evidence of Insurance in a PDF format. Our system will also send you an immediate email, titled "MovingInsurance.com Confirmation", which has the document attached to it as well. If you do not have the appropriate software to view the document, we provide a link to download this software.
In such a case, you need to contact us immediately. If the new moving company or service provider you are using is a registered company (affiliate) in our network, we will make the change and your insurance coverage will be valid as before. If the company is not yet a registered affiliate in our network, we will need some information from you so we can start a process of qualification, and hopefully sign them up. However, if the new company is not qualified or does not wish to participate in our network, we will cancel your insurance and charge a cancellation fee as per the Terms and Conditions.
Yes. You can cancel your insurance, as long as the move (packing or loading) has not occurred yet. You need to contact our office and provide us with a written request to cancel your insurance (email is acceptable). Your insurance will be cancelled, and we will refund your credit card, minus a cancellation fee as per the Terms and Conditions.
Coverage
Are there any items not covered under this insurance?
There are several items that cannot be covered under our insurance coverage. Please refer to the Terms and Conditions page for more clarification.
Can I insure my goods for sentimental value?
Our insurance does not cover household goods for sentimental value. For example, a wedding photo album will be covered only for its commercial value, not its sentimental value.
Can I purchase insurance only for specific items?
Yes. Unlike other insurance agencies, our All Risk insurance type allows you to purchase insurance for specific items. You can do so by choosing the Full Replacement Value - Valued Inventory option, and listing the items you want to insure. However, please remember that items not listed are not covered for this insurance option. Our Named Perils insurance types, or our All Risk Replacement Value Lump Sum type allow you coverage based on your declared value, whether it is for one item or your entire shipment.
What are the minimum and maximum insurance coverage amounts allowed?
There is no specific minimum amount of coverage. However, our minimum premium is typically based on $10,000 worth of coverage. In other words, for any declared value lower than $10,000, your premium will be determined as the minimum premium available. Also, with some insurance applications, you may need to contact us should you desire to purchase insurance in excess of $150,000 worth of goods loaded onto one truck.
Can I insure my automobile or motor vehicle?
Automobiles and motor vehicles are covered only with our All Risk and Total Loss types of insurance. Please keep in mind that there are limits on coverage for autos three (3) years old or older. Coverage will exclude dents, chips and marring unless noted on the exceptions inventory performed by the mover. We do not provide coverage for automobiles and motor vehicles with our Named Perils types of insurance.
If I pack my own boxes, are the contents covered?
While using a full service moving company affiliated with us, boxes, cartons, or containers that are not packed by the movers are considered Packed By Owner ("PBO"). Any damages incurred to PBO items will have limited coverage. Items must be packed in new professional moving cartons. Items packed in original manufacturer boxes and plastic containers are not covered. The damaged cartons must be photographed prior to opening, and the damage to specific boxes must be documented on the delivery paperwork and signed by all parties. Loss of any item or box must be specifically documented on the delivery paperwork and signed by all parties. Claims for items from PBO boxes also must take photographs of the carton at delivery in the exact condition received, and the loss of any item(s) must be documented on the delivery paperwork and signed by all parties. In all cases, the maximum compensation for loss or damage to packed by owner cartons, subject to these conditions, is limited to a maximum of $250 for any one carton, and limited to a maximum of 10 cartons ($2500) per coverage. Proof of ownership will be required. If insurance is purchased while using a mobile storage company or renting a truck, owner packed boxes are covered based on the specific insurance Terms and Conditions.
Can I purchase insurance if I am using a mobile storage company or renting a truck?
Yes. If you are using a mobile storage company or renting a truck for shipping your goods, our Named Perils type of insurance will cover your belongings. Please review our Terms and Conditions for specific terms and exclusions.
How do I determine value on my household goods?
Here are some methods:
- Review the estimate you have received from your movers and look for estimated weight (in pounds or lbs) or estimated volume (cubic feet or CF). If the estimate is based on volume, multiply this figure by 7 to arrive at an estimated weight. Once you have a weight figure in pounds, multiply it by $8.00 to arrive at a required declared value for your shipment. For example, if your shipment's estimated weight is 3,000 lbs., the required declared value is $24,000.00.
- Think of the amount of compensation you would need to receive in order to replace your household goods if the entire shipment had been demolished and use that number as your guideline. Your homeowners policy may be a good resource to determine this value.
- Simply go around your home and list the items with their individual value, based on actual purchase receipts or the cost to replace the items with comparable items at todays prices, and add it all up to arrive at a total declared value.
- Use the Internet to research and find the value of your goods. By utilizing search engines and indicating the brand name or type of item you are shipping, you may be able to find the value of the item(s).
- For unusual or high value items, statues or artwork, you should have a certified appraisal current within 3 years.
Please remember that if you choose the Full Replacement Value - Lump Sum option, we require your declared value to be no less than the weight of your shipment (in pounds or lbs.) times $8.00.x This is a minimum requirement only, and if your goods are valued at more than this, you should indicate this accordingly.
Storage
Yes, your goods will be covered if delivered to any of our certified affiliates' storage facilities. Coverage for your goods in storage is dependent on the specific type of insurance and the Terms and Conditions of that policy. The costs will vary depending on the length of time in the facility, and the type of insurance selected.
Will my items be insured if my shipment goes into a mini/self/public storage facility?
No. Our All Risk, Total Loss, and Named Perils types of insurance do not cover goods while stored in a self storage facility. To obtain self storage coverage, please go to our website, www.StorageInsurance.com.
When does coverage to my household goods start and when does it end?
If you purchase our All Risk or Total Loss policy while using a full service moving company, your coverage starts based on your declaration and no earlier than the packing date, defined as when the movers arrive at your home, whether it is for packing or for the actual move. Your goods are covered for a period of up to 90 days if stored at the moving company's storage facility (SIT - Storage In Transit), as well as for the move out of storage. Your coverage with these types of policies will end after this period, or immediately upon delivery of your goods, whichever comes first. Additional stay at the moving company’s storage facility beyond this time requires additional coverage, which can be obtained by purchasing a storage extension.
If you are using a mobile storage company or renting a truck, coverage starts based on your declared effective date and ends based on your declared delivery date, up to a maximum of 30 days after coverage effective dateFor all policy types, please review the specific Terms and Conditions for your selected type of insurance for full details on coverage length, storage terms, and information specific to your selected type of insurance.
If my goods remain in storage for longer than 90 days, can I get the coverage extended?
If you purchased our All Risk, Total Loss, or one of our Named Perils type of insurance, you can extend your insurance coverage on a monthly basis, for as long as you need, as long as your goods are being stored in an approved moving and storage facility. Please remember that it is your responsibility to extend your coverage, as it will not be extended automatically, and we do not allow a lapse in coverage. Note that we do not provide storage coverage for goods covered under our Truck Rental type of insurance. You can extend your coverage by logging to your account at www.MovingInsurance.com and choosing the "Purchase Storage Extension" option.
Yes. If your goods will be moved by a full service moving company they can be covered, However, please keep in mind that unless the items and boxes will be re-inspected by the movers and a new inventory is provided, this insurance will be limited in coverage, since it will consider all items to be either Packed By Owner (PBO), or as Condition Unknown. We can also insure your goods if they are being moved out of storage by a mobile storage company. Coverage in this case will not be retroactive, and will only be covered for Named Perils.
Yes. The types of insurance available for you in this case are the Named Perils and Total Loss Only types of insurance.
Yes. When using a full service moving company or a mobile storage company, your goods will be fully covered for such a situation, as long as the truck is being parked in the approved movers' facility and in the Care, Custody, and Control of the movers at all times. Your goods will not be covered in this situation if you are using a rented truck.
Claims
How do I file a claim for damages?
Filing a claim can be done online via our website, using your account login information. Instructions for filing are included on the claim form. This process will initiate and create your claim, which will be forwarded to our claims department for further handling. General information required are the dates of packing, loading and delivery, the moving company which performed the move, and a description and dollar amount of the damage being claimed.
How long do I have to file a claim?
We recommend that you file your claim as soon as possible after completion of your move. Any loss or damage must be documented on the delivery paperwork and signed by all parties. The All Risk policy does allow you an additional 48 hours from delivery to notify us in writing of any damage you may find to your furniture items that you may have overlooked during delivery. You have up to 45 days to file your claim for specific items under the Full Service All Risk policy. Any items not specifically claimed within 45 days of delivery will not be covered. While purchasing a policy using a mobile storage company or a rental truck, we allow 14 days for filing a claim.
How does the claims process work?
When you file your claim on our website, a claim adjuster is assigned. You will receive a claim packet via email within 3 to 5 business days. The claim packet will contain specific instructions based on the policy you purchased, and will require you to provide specific information on the items being claimed. Please remember that if you have other items you are claiming that you did not include on your initial online claim filing, any other items you must submit in writing within 45 days of delivery in order to be considered. You may be required to provide additional information, such as copies of signed delivery documents, photographs of damaged items, repair estimates, appraisals and/or proof of value.
How long does it take to settle a claim?
On the All Risk insurance policy, once you submit your claim (within 45 days of delivery), you will receive the claim packet with specific instructions. You will have up to 60 days from the date the claim packet is emailed to you to submit the requested information. Most claims are settled within 7 days or less, provided that all documentation required has been submitted to us by you and your moving company.
No. In case of a claim settlement, you can collect payment only from one source, the insurance company OR the service provider.
What is considered proof of ownership of my items and how do I establish it?
Proof of ownership could be purchase receipts, appraisal notes, estimate or bid notes, as well as pictures taken of the specific items insured while in your possession.
Do I need to take pictures of my items?
It is not required to take pictures of your insured items prior to your move, but is recommended, as it will establish proof of ownership, as well as proof of condition to the items. If you take pictures, we suggest you take pictures from different angles to cover all aspects of an item. In the event of a claim, you will be required to submit photographs of the damaged items.
Do I need to produce receipts in order to prove the value of the items?
This is the most common method of establishing proof of value, however you do not need to produce receipts in regards to the value of the items when you purchase your insurance. But, in case of a claim, the insurance company reserves the right to request such receipts, in order to establish replacement cost. Proof of value can be required on all items being claimed. Acceptable proof of value is either a purchase receipt, cancelled check or a certified appraisal.
What is an "Appearance Allowance"?
An Appearance Allowance is a settlement resolution which would apply to an insured item that has some sort of minor damage, is still fully functional, and the insured customer would rather be compensated for it in a small way and retain the item.
Assuming that damages were noted by the customer at the time of delivery, and a matching item (cushion in this example) could not be reproduced, the insurance carrier would allow for replacement of the sofa, or the insured value, whichever is less. The insurance carrier would then have the right to salvage the item.
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